What Private Capital Cannot Do Alone: The Future of Global Infrastructure Development
A looming debt crisis across the Global South has left governments without the budgetary resources to co-invest in critical infrastructure alongside partners in the Global North, and to afford the education, health, and adaptation expenditures needed to ensure sustainable, equitable, and growth-enhancing industrial development. In his paper for the
Carnegie Endowment for International Peace, Advait Arun focuses on the
Partnership for Global Infrastructure and Investment (PGI), a collaboration between the United States and partner nations in the Group of Seven (G7) to put $600 billion toward global infrastructure development by 2027. The PGI is a thinly veiled reaction to China’s Belt and Road Initiative (BRI), which has already invested over $1 trillion abroad over the past decade. The PGI’s promise is that the investments under its umbrella, focused on energy, supply chain resilience, digital connectivity, health, and gender equity, will be safer and more transparent, providing Global South countries and communities with greater benefits than China’s more opaque deals.
https://carnegieendowment.org
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